NUGENE INTERNATIONAL INC. (NUGN) PROVIDES SHAREHOLDER UPDATE AND ANNOUNCES CHANGE OF CONTROL

Rhea-AI Summary

NuGene International (OTC Pink: NUGN) has completed a change in control with Livento Group LLC. David Štýbr, CEO of Livento, gained majority voting control through the acquisition of Super Voting Preferred shares. The company is shifting its focus towards the film and television industry, having secured contracts with a production company that creates films for Netflix and Prime Video. Livento has a production history of 16 films on Netflix, with the latest release in September 2022. The new management aims to remove NUGN's 'shell' status and conduct a full audit.

Positive

• Change in control could enhance management capabilities.
• Shift to the film industry aligns with growing demand for content.
• Contracts with Netflix and Prime Video could lead to revenue growth.
• Recent film productions indicate potential for increased visibility and stakeholder engagement.

Negative

• Change in business model introduces risks associated with new industry.
• Removal of 'shell' status may be complicated and time-consuming.

Carson City, NV, March 17, 2022 (GLOBE NEWSWIRE) -- Publicly traded company NuGene International Inc. (OTC Pink: NUGN) announces the completion of a change in control with Livento Group LLC, a Delaware Corporation. David Štýbr, the CEO of Livento, acquired majority voting control in a private transaction through the purchase of 100 Super Voting Preferred A shares and 5 million Preferred C shares from Milan Hoffman, CEO of Emergent LLC. Livento Group LLC has confirmed a change of NUGN’s business model, redirecting its focus to the film and television industry. Livento currently has contracts with a production company that produces films for Netflix and Prime Video, in addition to co-producing large budget films worldwide with top actors in the film industry.  To date, they have produced and co-produced sixteen films on Netflix, the latest of which was released September 3^rd. 

As part of the transaction, David Štýbr has been appointed Sole Director and Milan Hoffman has resigned from her positions.  “Our immediate focus in the coming weeks will be the removal of “shell” status on OTC Markets and the performance of a full audit”, stated the new CEO.  “Once these preliminary actions are complete, we will submit a form 10Q and proceed from there.  We are currently in the process of completing the initial change of control information needed for OTC Markets” he added.

Milan Hoffman will be assisting with Livento’s transition to the public markets for the next few months. “I’m beyond thrilled that we were able to find such an incredible CEO and team for NUGN. This will go a long way to restore shareholder value and may even surpass expectations”, stated Milan Hoffman, CEO of Emergent LLC. “I am impressed with their management’s experience and honored to be providing them with a public vehicle that will bring their vision to the next level.  They have every resource and capability necessary to make NUGN realize its maximum potential.”

Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Livento Group LLC believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Livento Group LLC is unable to give any assurance that its expectations will be attained. Factors or events that could cause actual results to differ may emerge, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contact:
David Štýbr, CEO
Livento Group LLC
contact@liventogroup.com  
+1 980 432 8241
www.liventogroup.com
https://twitter.com/LiventoG

About Emergent LLC:

Emergent LLC is a full-service business compliance firm. We strive to help our clients achieve the regulatory standard necessary for business restructuring and reverse mergers.

emergentcompliance@gmail.com
https://twitter.com/EmergentLlc
https://emergentcompliance.com/

FAQ

What is the recent change in control for NUGN?

NuGene International announced a change in control with Livento Group LLC, where David Štýbr acquired majority voting control.

How is NUGN changing its business model?

NUGN is shifting its focus to the film and television industry, having contracts with producers for Netflix and Prime Video.

What films has Livento produced for Netflix?

Livento has produced sixteen films for Netflix, with the latest released on September 3, 2022.

What are the immediate plans after the change of control for NUGN?

The immediate plans include removing the 'shell' status and conducting a full audit of the company.